Steel manufacturer ArcelorMittal is investing INR81 billion (US$903 million) in three renewable energy projects across three states in India.
The investment includes a 36MW solar plant in Amaravati, Maharashtra, scheduled for completion in the first half of 2027. It also covers a 400MW solar project with 500MWh of battery energy storage in Bikaner, Rajasthan, targeted for completion in the first half of 2028.
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In addition, the investment spans a hybrid project in Bachau, Gujarat, comprising 50MW of wind, 300MW of solar, and 300MWh of integrated battery storage, also due for completion in the first half of 2028.
“With these new projects, we are doubling our renewable energy capacity in India,” said Aditya Mittal, CEO, ArcelorMittal. “Our approach is to invest in projects that are sustainable, economically sound, and aligned with our ambition to make a meaningful contribution to the energy transition.”
According to the company, once completed, the projects will double ArcelorMittal’s renewable energy capacity in India to 2GW. Total capital expenditure for the projects is expected to reach US$0.9 billion.
The power generated will be supplied to AMNS India, ArcelorMittal’s 60:40 steelmaking joint venture with Nippon Steel, to support operations at its Hazira steel plant in Gujarat.
In addition to ArcelorMittal’s three new projects, AMNS India is developing its own renewable energy project in Bachau, Gujarat, mirroring the parent company’s hybrid development in both location and scope.
The 550MW project comprises 300MW of solar capacity and 250MW of wind power. This builds on ArcelorMittal’s initial 1GW renewables project in India, which began supplying clean energy to AMNS India earlier this year.
Luxembourg-based ArcelorMittal is also developing renewable energy projects in Brazil and Argentina through joint venture partnerships. Once fully operational, its projects across India, Brazil and Argentina are expected to deliver a combined 3.3GW of power generation capacity.
